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SBF Arrested by Bahamian Authorities

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Re: SBF Arrested by Bahamian Authorities

#451

Earlier quoted context omitted.

I remember a lot of people strongly believed that SBF would never get in trouble because he was a Democratic donor, and that this was all part of some vast corruption scandal. It turns out not everything is a conspiracy.

It’s not that everything’s a conspiracy, it’s that everything is corrupt. Our whole system is from top to bottom. The PR and public statements are almost never the private statements or full story. Even with all the corruption, sometimes the optics are a bridge too far, even for the connected.

> It’s not that everything’s a conspiracy, it’s that everything is corrupt.

No, it's not, and this sentiment is what frustrates a lot of us. I'm in no way saying "the world is fair" or that money and power can't be influential, but, at least in the US, and at least for the time being, there are a lot of career law enforcement people who really just want to do a good job.

Yes, these folks that do just want to do a good job have been under a heavy attack in the past 10-20 years as "the deep state", but most of them are just normal Joes and Janes that are good at their job and believe in following the law, and there are just not enough avenues at the time being to bypass that, particularly in high profile cases like this.

Re: SBF Arrested by Bahamian Authorities

#452

Earlier quoted context omitted.

A necessary conceit of the prisoner's dilemma is that they can't communicate, and therefore can't strategize together so that doesn't exactly apply here. It's just self preservation.

Like others said, it's not about communication, but trust. If you stack the payoff matrix severely enough, there's nothing the prisoners can strategize, and you can literally keep the prisoners in the same room, and it will still work. Consider the payoff matrix in this example, somewhat analogous to the case we're describing: - Both defect -> both go to prison for life - One defects, one cooperates -> the cooperatin…

> Both cooperate -> both go free for a moment, spend some months or maybe even a few years living in fear, then with 95% chance go to prison for life. That's because the whole deal is about saving work for the Feds, but they will put in that work if needed, and come back with bullet-proof case.

This isn't necessarily the case. The Feds convict on 95% of the cases they decide to prosecute. Which means that they decide not to prosecute marginal cases.

It could be the case that there just isn't enough evidence to bury them.

Re: SBF Arrested by Bahamian Authorities

#453

Earlier quoted context omitted.

A necessary conceit of the prisoner's dilemma is that they can't communicate, and therefore can't strategize together so that doesn't exactly apply here. It's just self preservation.

Prisoner's dilemma has a Nash equilibrium where defection is the best move regardless of anything else that happens. If you change the game to be a repetitive 'prisoner's dilemma' with the same actors the best strategy would be tit for tat.

Yes, and this kind of prisoner's dillema isn't an accurate description of the hypothetical one. When it comes to the DOJ making a case against two people, both of them co-operating will likely get both of them harsher sentencing than what the defector will get.

That's why underlings have strong incentives to defect, and defect quickly. (Defection is also rarely an option for the person at the top of the pyramid.)

Re: SBF Arrested by Bahamian Authorities

#455

Earlier quoted context omitted.

-- my reading of this is only that the business empire as a whole was poorly managed - ftx.us was included in the ftx.com bankruptcy to avoid a run on the bank - if they were trying to avoid a run on the bank - wouldn't it further indicate the ftx.us platform indeed had funds? - most of this document is concerned with ftx.com not ftx.us --

From the article: > FTX US was not operated independently of FTX.com.

-- yes - same management team - operated both - but that's as much as we know for certain so far - guess we will see - that why im so curious - lot of talk here in Korea that Do Kwon wont go to jail even if they arrest him --

Re: SBF Arrested by Bahamian Authorities

#456
post #15

Alright, well, now that that's done - let's go find all those people in the past threads who were saying things like SBF will never be arrested.

I remember a lot of people strongly believed that SBF would never get in trouble because he was a Democratic donor, and that this was all part of some vast corruption scandal. It turns out not everything is a conspiracy.

Largely I think it’s projection because their guy let off many of his coconspirators. So from that view, it’s easy to think others would do the same.

Re: SBF Arrested by Bahamian Authorities

#457
post #104

Earlier quoted context omitted.

It's clear Caroline Ellison has turned against him. Stephanie Avakian, former SEC enforcement chief, is representing her in NY. I'm guessing they wouldn't have been able to file charges this quickly without Caroline becoming a cooperating witness.

She is also VERY well connected to the SEC. It wouldn't surprise me if they gave her a sweetheart deal.

The SEC is not an enforcement agency and thus cannot give "sweetheart deals".

Re: SBF Arrested by Bahamian Authorities

#458
post #438

Earlier quoted context omitted.

Quoted post unavailable.

You think the government won't take your Bitcoin?

Yes, I think the government absolutely will try and it's quite probable they will succeed. But why not offer human beings the _chance_ to flee tyranny with their livelihood?

Consider jews fleeing Nazi Germany. Should they have been allowed to escape with their assets? Would the world be a better place had they been able to?

Re: SBF Arrested by Bahamian Authorities

#460

Earlier quoted context omitted.

I agree, some subset of tokens created on a permissionless blockchain are or will be worthless. In fact, I bet that subset is >99%. I don't see what your point is.

My point is that the amount of value "stored" in blockchains is manipulated and vastly overstated.

Sure. I agree.

Doesn't change the extremely valuable mathematical properties of blockchains or their set of use-cases.

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